Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets (Unaudited)

v2.4.0.8
Condensed Consolidated Balance Sheets (Unaudited) (USD $)
Mar. 31, 2014
Jun. 30, 2013
Current assets    
Cash and cash equivalents $ 4,933,952 $ 5,944,260
Accounts and trade notes receivable, net of allowance for doubtful accounts of $155,000, respectively 1,300,793 2,240,632
Inventories, net 2,233,085 1,997,818
Refundable income taxes 127,923 45,064
Deferred income taxes 100,043 53,762
Lease and mortgage receivables, net 7,008 53,762
Other current assets 267,699 453,964
Total current assets 8,970,503 10,789,262
Leases and mortgages receivable - due after one year 26,526 26,526
Equipment and improvements, net 148,304 164,069
Franchise license, trademarks and other intangible assets, net 44,054 53,199
Deferred income taxes 12,425 19,274
Total assets 9,201,812 11,052,330
Current liabilities    
Accounts payable and accrued expenses 1,304,128 1,253,426
Accrued employee expenses 791,929 1,459,874
Income taxes payable    166,250
Deferred income    16,782
Customer deposits 3,017,829 2,472,333
Total current liabilities 5,113,886 5,368,665
Total liabilities 5,113,886 5,368,665
Commitments and contingencies      
Shareholders' equity    
Preferred stock, $1.00 par value; authorized shares - 200,000; none issued and outstanding      
Common stock, $0.025 par value: authorized shares - 15,000,000; 7,065,500, shares issued and outstanding, including shares held in treasury 176,638 176,638
Additional paid-in capital 2,095,069 2,095,069
Retained earnings 1,820,157 3,415,896
Treasury stock, 31,768 shares, at cost (3,938) (3,938)
Total shareholders' equity 4,087,926 5,683,665
Total liabilities and shareholders' equity $ 9,201,812 $ 11,052,330